Profs Fight For Clarity On Class Cert. In Securities Suits

Law360, New York (December 5, 2017, 10:32 PM EST) -- Two well-known law professors on Monday urged the U.S. Supreme Court to provide clarity on the standard for certifying securities fraud class actions, joining Petrobras in its bid to have the justices review the certification of a class of investors who claim the oil giant committed fraud by concealing information about a massive kickback scheme.

In an amicus brief, the professors, Adam C. Pritchard of the University of Michigan Law School and M. Todd Henderson of the University of Chicago Law School, said the Second Circuit...